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Derivatives and Hedging Activities (Tables) | 9 Months Ended
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Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Interest Rate Swaps and Interest Rate Caps Outstanding | The key terms of interest rate swaps and interest rate caps outstanding are presented below:
|  |  |  | September 30, 2025 |  | December 31, 2024 |  |
Description |  | Effective Date |  | Notional Amount (in millions) |  | Status |  | Notional Amount (in millions) |  | Status |  | Maturity Date
Pay-fixed swap |  | May 7, 2021 |  | $ | — |  |  | Matured |  | $ | 435.0 |  |  | Active |  | March 31, 2025
Pay-fixed swap |  | May 7, 2021 |  | — |  |  | Matured |  | 330.0 |  |  | Active |  | March 31, 2025
Pay-fixed swap |  | May 7, 2021 |  | — |  |  | Matured |  | 435.0 |  |  | Active |  | March 31, 2025
Interest rate cap |  | September 30, 2021 |  | — |  |  | Matured |  | 143.6 |  |  | Active |  | March 31, 2025
Interest rate cap |  | September 30, 2021 |  | — |  |  | Matured |  | 8.2 |  |  | Active |  | March 31, 2025
Deferred premium cap |  | March 31, 2025 |  | 394.0 |  |  | Active |  | 396.0 |  |  | Active |  | December 31, 2028
Deferred premium cap |  | March 31, 2025 |  | 197.0 |  |  | Active |  | 198.0 |  |  | Active |  | December 31, 2028
Deferred premium cap |  | March 31, 2025 |  | 394.0 |  |  | Active |  | 396.0 |  |  | Active |  | December 31, 2028
Deferred premium cap |  | March 31, 2025 |  | 197.0 |  |  | Active |  | 198.0 |  |  | Active |  | December 31, 2028
Deferred premium cap |  | March 31, 2025 |  | 197.0 |  |  | Active |  | 198.0 |  |  | Active |  | December 31, 2028
|  |  |  | $ | 1,379.0 |  |  |  |  | $ | 2,737.8 |  |  |  |  |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table presents the fair values of our derivatives and their location on the condensed consolidated balance sheets (in millions):
|  |  |  | September 30, 2025 |  | December 31, 2024
|  |  |  | Assets |  | Liabilities |  | Assets |  | Liabilities
Derivatives in cash flow hedging relationships |  |  |  |  |  |  |  |  |  |
Interest rate caps (1) |  |  |  | $ | — |  |  | $ | — |  |  | $ | 1.1 |  |  | $ | — |
Interest rate swaps (1) |  |  |  | — |  |  | — |  |  | 9.7 |  |  | — |
Interest rate caps (2) |  |  |  | — |  |  | 14.4 |  |  | — |  |  | 6.1 |
Interest rate swaps (3) (4) |  |  |  | — |  |  | — |  |  | — |  |  | 3.5 |
Total |  |  |  | $ | — |  |  | $ | 14.4 |  |  | $ | 10.8 |  |  | $ | 9.6 |
(1)Amounts were included in other current assets on the condensed consolidated balance sheets as of December 31, 2024. (2)Amounts were included in other long-term liabilities on the condensed consolidated balance sheets as of September 30, 2025 and December 31, 2024. (3)Amounts were included in other current liabilities on the condensed consolidated balance sheets as of December 31, 2024. (4)Amounts related to the financing component of the pay-fixed interest rate swaps.
Schedule of Effect of Interest Rate Swaps | The following table presents the pre-tax effect of the interest rate swaps and caps on the Company's accumulated OCI and condensed consolidated statements of operations (in millions):
|  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
| Location |  | 2025 |  | 2024 |  |  |  | 2025 |  | 2024
Derivatives in cash flow hedging relationships |  |  |  |  |  |  |  |  |  |  |
Loss recognized in OCI (effective portion) |  |  | $ | (2.7) |  |  | $ | (11.8) |  |  |  |  | $ | (11.1) |  |  | $ | (2.7) |
Loss (gain) reclassified from accumulated OCI into income (effective portion) | Interest expense, net |  | 1.6 |  |  | (14.8) |  |  |  |  | (8.1) |  |  | (44.3) |

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 182 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References No definition available. + Details
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- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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